How much money can you make with a credit repair business?
The amount of money you can make with a credit repair business depends on how many clients you have and how much you charge. If you have 10 clients who are each paying you $99.00 per a month you can earn $9,900.00 per a month.
Your only limitations are the value you can provide your clients, how long you retain each client and how many clients you have.
If you are interested in starting your own credit repair business from home you can see the step by step guide here and if you are wondering if it is worth starting a credit repair business check out the article here. If you would like to see how much you should charge for credit repair look at this article.
Credit repair statistics
1. Market size of the credit repair industry
The market size of the credit repair industry is expected to pass 4bn in 2023. This is a massive market cap for someone who wants to start their own business. You do not a need a very big piece of the pie to make a good income from a credit repair business.
2. There are over 69000 credit repair businesses in the US
the amount of money you can make with a credit repair company
On average a client will spend approximately $750.00 with a credit repair business. This means that the only limiting factor is how many customers you can sign up into your business.
The best credit repair companies who make the most are the best marketers. The better you get at marketing the more customers you can bring into your business an the more money you can make.
Credit repair business revenue
The gross margins of your credit repair business should be around 90% if you are working out of your home. If you have a office and staff your margins are going to shrink to around 50% but this all depends on how many clients you have.
How does a credit repair company make money?
A credit repair company makes money by charging their clients a monthly fee to dispute mistakes on their credit report. Since this process can take some time, on average the typical customer will stay with a credit repair company 7 months.
The more customers a credit card company has the more money they can make.
Are Credit Repair business profitable?
The average gross margin for a credit repair business is 90% according to industry insiders. This is one of the most profitable business models you can find. As long as you keep your overhead low, like rent and software, your margins will stay really high and be almost all gross profit.